Altitude Development Co will launch four residential projects worth a combined 4 billion baht in 2019 with a focus on middle to upper-end offerings, a segment less constricted by the central bank's new lending rules.

Altitude Symphony Charoenkrung-Sathorn is one of four projects set for launch in 2019.

The company will continue to focus on the A and B+ segments because more than 40% of these buyers use cash to buy a residential unit, while those taking out a mortgage borrow only 50% of the credit line, said chief executive Chayaphon Hunrungroj.

"The property market next year will be more challenging due to the new lending rules and rising interest rates," he said. "Projects in the middle to lower-end segment will see an impact from the new requirements on mortgage loans."

The four projects launched next year will include single houses, home offices and low-rise and high-rise condos in inner-city Bangkok. Three will be in the high-end segment, and one will be mid-priced but in locations where demand is strong.

"The new lending rules will have less of an impact on our new projects as we collect a down payment of 20-30% of the unit price," Mr Chayaphon said.

Executive director Kwanchai Yingchareonthawornchai said the property sector in 2019 will be a buyer's market. Developers will launch campaigns to boost sales in the first quarter ahead of the new lending rules taking effect on April 1.

One of the new projects is Altitude Symphony Charoenkrung-Sathorn, a 21-storey condo tower worth 980 million baht to be launched in the first quarter. The aim is to have 80% of units sold, with one-fourth bought by expats.

The project will occupy a 3.69-rai plot of Chan Soi 44 in the Sathon area, comprising 99 units sized at 30-148 square metres and priced at 160,000 baht per sq m on average.

Mr Kwanchai said the company also sees room to launch projects in the Charoen Krung area, which has had no new supply in the high-priced segment during the past two years.

According to a company survey, condo supply in Charoen Krung totals 2,166 units. Of the amount, 1,668 or 77% are sold. The average selling price rose 8% per year during 2013-18, from 166,000 baht per sq m to 240,000 baht.

Altitude expects to post 700 million baht in presales by the end of 2018, down from 850 million baht in 2017, as new projects launched last year were strictly high-rise.

The company will spend 1.5 billion baht to buy new plots of land for future development. It also plans to list on the stock exchange by 2020.